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Nov 22, 2012
11/12
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it doesn't make a lot of sense to get rid of a deficit reduction program, as part of a deficit reduction deal. the white house already rejected boehner's idea. obama care will not be part of debt negotiations. boehner is up to something here, don't you think? something else, that is. if you watch john boehner closely over the last two weeks, you can see him laying the ground work for the latest ploy. he called obama care the law of the land, but also tried to link it to obama care and the budget. >> you had said, next year, that you would repeal the health care vote. that's still your mission? >> well, i think the election changes that. it's pretty clear that the president was re-elected. obama care is the law of the land. i think there are parts of the health care law that are going to be very difficult to implement. and very expensive. and at a time where we're trying to find a way to create a path toward a balanced budget, everything has to be on the table. >> but you won't be spending the time next year, trying to repeal obama care? >> there are certainly may be parts of it that we b
it doesn't make a lot of sense to get rid of a deficit reduction program, as part of a deficit reduction deal. the white house already rejected boehner's idea. obama care will not be part of debt negotiations. boehner is up to something here, don't you think? something else, that is. if you watch john boehner closely over the last two weeks, you can see him laying the ground work for the latest ploy. he called obama care the law of the land, but also tried to link it to obama care and the...
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Nov 22, 2012
11/12
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medicare, medicaid, the chief drivers of our president -- deficit. we made a lot of progress, but there is still spending we have to cut. the big bottleneck is republicans in congress on revenue and how much they're willing to come from. democrats will also have to step up and do some tough things. the notion that somehow these deficits and our debt are not a threat to our national security and economic future is something i cannot -- disagree with more strongly, as does the president. there are commentators on the left that suggest that -- we should not deal with it at all. we have to deal with it. think about the damage -- let's say we could reach an agreement. i happen to believe, i am not an economist by training, but we have been around enough to understand -- that would be a great driver for our economy. we are over performing the rest of the world right now. if we can actually -- for the business community and the american people say we have our fiscal house in order for a 20 period and will still be able to invest in education and technology
medicare, medicaid, the chief drivers of our president -- deficit. we made a lot of progress, but there is still spending we have to cut. the big bottleneck is republicans in congress on revenue and how much they're willing to come from. democrats will also have to step up and do some tough things. the notion that somehow these deficits and our debt are not a threat to our national security and economic future is something i cannot -- disagree with more strongly, as does the president. there...
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Nov 26, 2012
11/12
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however, the cbo projects that under a possible such a policy assumptions the deficit could still be greater than 4% of gdp in 2018, assuming the economy has returned to its potential by then. moreover, under the protection, the deficit and the ratio of federal debt to gdp would subsequently returned to an upward trend. we should all understand that long-term projections of ever increasing deficits will never accept underpass because the willingness of lenders to continue to fund the government can only be sustained by a responsible fiscal plans and actions. a credible framework to set a better fiscal policy, one in which the ratio of federal debt to gdp eventually stabilizes or declines, is urgently needed to maintain stability. even as policy-makers address the urgent issue of longer run out stability, they should not ignore a second key objective, to avoid unnecessarily adding to the head winds that are already holding back the economic recovery. fortunately, these objectives are compatible and mutually reinforcing. preventing a sudden and severe contraction in fiscal policy early
however, the cbo projects that under a possible such a policy assumptions the deficit could still be greater than 4% of gdp in 2018, assuming the economy has returned to its potential by then. moreover, under the protection, the deficit and the ratio of federal debt to gdp would subsequently returned to an upward trend. we should all understand that long-term projections of ever increasing deficits will never accept underpass because the willingness of lenders to continue to fund the government...
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Nov 27, 2012
11/12
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it is still about three times the average deficit under bush. let us go back to the clinton tax era. eileen anywhere between republican and libertarian. up -- yes i am not. i lean anywhere between republican and a libertarian. host: what do you make of republicans up on capitol hill -- to sort of a back off the tax pledge that he took when he ran for senate, saying he would not raise taxes. caller: if we are going to raise taxes my important thing is raising them on everybody. because if they try to strike a compromise where only the rich get taxed, then it gets more progressive. it is not a point to help the budget. we are right to raise taxes, raise them all the way down to where clinton had them. host: senators lindsey gramm represented peter king, talking publicly abandoning the pledge of democrats will talk seriously about entitlement reforms. rest in peace, grover norquist? there are not enough republican tax hikes -- republicans to hike taxes for obama. the left is doing its best to make tax hikes appear to be a foregone conclusion. that
it is still about three times the average deficit under bush. let us go back to the clinton tax era. eileen anywhere between republican and libertarian. up -- yes i am not. i lean anywhere between republican and a libertarian. host: what do you make of republicans up on capitol hill -- to sort of a back off the tax pledge that he took when he ran for senate, saying he would not raise taxes. caller: if we are going to raise taxes my important thing is raising them on everybody. because if they...
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Nov 28, 2012
11/12
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now we're facing debt and deficit. on the question of labour supply and investment of savings, it is hard to know what the rates would have been. but in general, tax rates to increase porges station in the labour market, particularly for women. there is every -- very strong evidence that lower tax rates make people save more prepared host: did it create jobs? guest: the tax policy itself does not create jobs. employers create jobs. there was a recession and at the bush administration in the beginning and one at the end. that continued into the obama administration. jobs come and go. at the moment, we have a significant job deficit. but i think if we look not just at the bush tax cuts in isolation, but the tax policy over the history of the united states and in other countries, we see the lower chart -- lower tax rates do contribute to getting jobs. host: ethan pollack, as did the bush tax cuts work? guest: they did work in the sense that they cost a lot of money and reduced surpluses. 80% of the debt added during the t
now we're facing debt and deficit. on the question of labour supply and investment of savings, it is hard to know what the rates would have been. but in general, tax rates to increase porges station in the labour market, particularly for women. there is every -- very strong evidence that lower tax rates make people save more prepared host: did it create jobs? guest: the tax policy itself does not create jobs. employers create jobs. there was a recession and at the bush administration in the...
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Nov 24, 2012
11/12
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the trust fund will run -- to mask the overall deficit. it was a nice tax breaks for low income seniors. that was stealing from that trust fund. we call it the social security fund. there is no trust in my estimation. host: this is from the huffy to post a business section. earlier this week-- huffington post business section. older americans are in the cross hairs. when congress returns for a lame-duck session, stocks will keep up -- talks will heat up and there may be reinvigorated discussions on a grand bargain. the last time that happens, president obama considered a proposal favored by republicans to extend the eligibility for medicare to 67. as a guy who turned 65, your thoughts about extending the eligibility for medicaid to 67. guest: if you are younger, you are not thinking about it. i think it would be prudent to do that for the health of the country in the future of the people. obviously, if you are at or near 65, you cannot do it. the thing i wonder is, as part of this whole situation, why is there no effort to really, really c
the trust fund will run -- to mask the overall deficit. it was a nice tax breaks for low income seniors. that was stealing from that trust fund. we call it the social security fund. there is no trust in my estimation. host: this is from the huffy to post a business section. earlier this week-- huffington post business section. older americans are in the cross hairs. when congress returns for a lame-duck session, stocks will keep up -- talks will heat up and there may be reinvigorated...
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Nov 28, 2012
11/12
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social security has not added one penny to the deficit. for those who say there is good reason to push it off the table and wait, i would add a note of caution. small changes made today in social security will play out over the long run to buy us solvency for a long time. we should take perhaps all the security off the table but be very honest but we will achieve in the near term. i think we should create the equivalent of eight simpson- bowles region of a simpson- bowles, and come up with a plan to buy 75 years of salt with the rigid of solvency. -- of solvency foug. i might add a wrinkle here. years, a similar commission ought to be creat ed. not get into this mess where we have six months to go with social security. you know how important it is for people. people are devastated by the recession and their pension plans lost. it is important to us, our kids come and grandchildren. i think we should create a commission that will report back to congress before a vote by the end of the next calendar year. i want to talk about the two toughes
social security has not added one penny to the deficit. for those who say there is good reason to push it off the table and wait, i would add a note of caution. small changes made today in social security will play out over the long run to buy us solvency for a long time. we should take perhaps all the security off the table but be very honest but we will achieve in the near term. i think we should create the equivalent of eight simpson- bowles region of a simpson- bowles, and come up with a...
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Nov 21, 2012
11/12
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he was an influential member on a balanced budget and deficit issues. he did not run for reelection in 1992. several years later while speaking about his public service, he said he had no regrets about not seeking another term. >> the question is does my retiring reflect a feeling of pessimism. not necessarily, but i have served this country and a variety of ways. 4677 years, when i met my deputy. private practice, i ran for the senate. i know 25 years of my life was in public service. although i know i look 45, i am a little bit older. i decided there were some other things i wanted to do. i wanted to write. i wanted to do something as a private citizen. if there had been a two-year commitment, i would have done it. not after another six years, and i have never regretted it, and never looked back. do not misunderstand me. if you read my book, you will get it. i love my service. it meant a lot to me. it was hard to walk away from. there were other things i wanted to do. the easy thing would have been to run for reelection. >> in a few moments, defense s
he was an influential member on a balanced budget and deficit issues. he did not run for reelection in 1992. several years later while speaking about his public service, he said he had no regrets about not seeking another term. >> the question is does my retiring reflect a feeling of pessimism. not necessarily, but i have served this country and a variety of ways. 4677 years, when i met my deputy. private practice, i ran for the senate. i know 25 years of my life was in public service....
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Nov 29, 2012
11/12
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howard's become a deficit hawk. i think howard and i would disagree probably on some of the elements of what constitutes -- >> no, but he's saying it's not a disaster if it happens. >> well, i was going to get to that point. the fiscal cliff itself, howard is right, it's a slope. on day one the economy does not collapse and go into recession. but i worry a lot about the markets. the market reaction to going over the cliff, particularly if we go over the cliff in disarray where there's really no plan. everything's broken down. nobody knows where anybody is. i think that could be pretty ugly in the markets. having said that, my own view is, that going over the fiscal cliff is only the second worst thing that can happen. the worst thing that can happen would be for congress to simply kick the can down the road on everything. >> that's exactly right. >> extend all the taxes, extend all the spending, let life go merrily on the way it is. we cannot let that happen. it is time to address the deficit. and if going over the
howard's become a deficit hawk. i think howard and i would disagree probably on some of the elements of what constitutes -- >> no, but he's saying it's not a disaster if it happens. >> well, i was going to get to that point. the fiscal cliff itself, howard is right, it's a slope. on day one the economy does not collapse and go into recession. but i worry a lot about the markets. the market reaction to going over the cliff, particularly if we go over the cliff in disarray where...
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Nov 25, 2012
11/12
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also look at the fact that walmart has generated trade deficits. when you look at this -- this blew my mind. this is the size that walmart has in our economy. the walmart trade deficits with china eliminated nearly 200,000 u.s. jobs between '01 and 2006. just walmart's decision, right. just that. so on the one hand, like yes, you've got this issue of how these supply chains are connected. but it feels like how else do you lift yourself out of that sort of thing? it's not just sort of what's good in a moral or a ethical sense. there's an economic what good is going on. >> the giant corporations do live in this bubble. the bubble where it's okay to do what they do mord to make more profits or to give bonuses or whatever. i'm not anti- -- in any sort of way. really just understanding that they believe that the hourly workers are super transient. okay, you want to leave. we'll get somebody else. all these people are happy. these people are are are cogs in that wheel. i think what you're doing and the fact that we're discussing this and adding pressure
also look at the fact that walmart has generated trade deficits. when you look at this -- this blew my mind. this is the size that walmart has in our economy. the walmart trade deficits with china eliminated nearly 200,000 u.s. jobs between '01 and 2006. just walmart's decision, right. just that. so on the one hand, like yes, you've got this issue of how these supply chains are connected. but it feels like how else do you lift yourself out of that sort of thing? it's not just sort of what's...
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Nov 27, 2012
11/12
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KQED
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lawmakers are under pressure to strike a deficit deal, preventing the tax hikes and deep spending cuts. wall street's week got off to an uncertain start, partly over concerns that strong holiday sales won't last. the dow jones industrial average lost 42 points to close at 12,967. the nasdaq managed about a ten- point gain to close at 2976. the woman who helped steer the government's regulatory response to the 2008 financial crisis is stepping down. mary schapiro announced today she's resigning as chair of the securities and exchange commission after nearly four years. president obama has designated s.e.c. commissioner elisse walter to replace schapiro, effective december 14. in bangladesh, thousands of people protested today over a deadly fire at a factory that makes garments for american and other companies. at least 112 people died in the saturday night blaze on the outskirts of dhaka, the country's capital. today, crowds of textile workers demanded justice and improved conditions. they accused management of putting production quotas ahead of people's lives. . >> reporter: what the f
lawmakers are under pressure to strike a deficit deal, preventing the tax hikes and deep spending cuts. wall street's week got off to an uncertain start, partly over concerns that strong holiday sales won't last. the dow jones industrial average lost 42 points to close at 12,967. the nasdaq managed about a ten- point gain to close at 2976. the woman who helped steer the government's regulatory response to the 2008 financial crisis is stepping down. mary schapiro announced today she's resigning...
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Nov 21, 2012
11/12
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CURRENT
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cutting it doesn't change the deficit or debt picture. a year or two of extra work, think progress writes may not seem like much with his cushy corner office. for a factory worker or janitor it can be real problems. life expectancy is longer. >> you can't afford a little hike in your taxes? really? >> stephanie: no. >> can i make a request? can we take justin on line one? i want to hear this. >> stephanie: okay. justin in huntington beach. you're on "the stephanie miller show." hi justin. >> caller: hey, guys, how you doing? i don't know if this makes me the world's best father or the world's worst father because my son and i basically raised him watching your show. so but what's really funny is every time he hears reince priebus, he says reince priebus. it doesn't matter whether it is on the radio or in the car. it is pretty hysterical. >> reince priebus. >> stephanie: i'm sorry. do it again justin. >> really loud. reince priebus. [ laughter ] >> stephanie: what's his name? >> his name is logan. >> stephanie: logan. >> caller: if i can d
cutting it doesn't change the deficit or debt picture. a year or two of extra work, think progress writes may not seem like much with his cushy corner office. for a factory worker or janitor it can be real problems. life expectancy is longer. >> you can't afford a little hike in your taxes? really? >> stephanie: no. >> can i make a request? can we take justin on line one? i want to hear this. >> stephanie: okay. justin in huntington beach. you're on "the stephanie...
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Nov 27, 2012
11/12
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eye 100
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>> with respect to the deficit and debt of the national security liability, we need our senior leadership and the ability to take it on. we have an opportunity to do so, we have a requirement to do so. the requirement and foundation of national power is ultimately economic in terms of global influence. and in terms of supporting the military. we have, i think, members of the house will step up in the coming months. >> how did you look at your surplus of the united states? do they say that we have america under control because of the treasury? >> superposition to the united states is very important. it is very decisive. so there is no intention for us with this economic relationship. >> i'm going to open it up to the floor. we have four microphones around the room. josh grogan is over here. >> thank you very much, and thank you for your time today. i figure we can all agree that the number one issue of the risk of conflict with china is a large part of u.s. strategy encouraging this is to urge china to have a better code of conduct and et etc. and the chinese respond typically as that's fi
>> with respect to the deficit and debt of the national security liability, we need our senior leadership and the ability to take it on. we have an opportunity to do so, we have a requirement to do so. the requirement and foundation of national power is ultimately economic in terms of global influence. and in terms of supporting the military. we have, i think, members of the house will step up in the coming months. >> how did you look at your surplus of the united states? do they...
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Nov 27, 2012
11/12
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CSPAN2
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eye 109
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no more deficit spending. we'll pay for it by having a surtax on people who make more than $1 million a year. and that surtax is .3%. they stopped it. they stopped it dead in its tracks. every republican voted against that. that is the way that they have legislated this entire year. and by our getting rid of the motion to proceed, that we're turning country upside-down is ridiculous. it's not true. they have legislated with the effort to defeat obama. he won. he won by 2 1/2 million votes, 325 -- 327 electoral votes, overwhelming. even though they did everything they could to stop him from being reelected. everyone knows what a failure this congress has been because of what the senate has done and that's nothing. nothing. no job creation. they didn't want that. it would -- if -- if we had had some ability to create jobs, it would have helped obama, it would have helped the country. but, no, that wasn't what they wanted to do. and a terrible day for them last year was the -- several months ago, the supreme cour
no more deficit spending. we'll pay for it by having a surtax on people who make more than $1 million a year. and that surtax is .3%. they stopped it. they stopped it dead in its tracks. every republican voted against that. that is the way that they have legislated this entire year. and by our getting rid of the motion to proceed, that we're turning country upside-down is ridiculous. it's not true. they have legislated with the effort to defeat obama. he won. he won by 2 1/2 million votes, 325...
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Nov 27, 2012
11/12
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and we know that the only way we can solve our long-term debt and deficit problem is to fix the unsustainable growth rates of our very popular entitlement programs. the president has indicated an openness to that and now's the time to actually do it. and i hope we can put all this divisiveness behind us and build the confidence and relationships on a bipartisan basis, which would help us get there here at the end of the year. >> the president and leader reid said social security should be off the table. what's your reaction to that? >> all of the entitlements need to be discussed, because they all to one degree or another are on an unsustainable path. medicare is in more immediate danger. we want to save these programs and i understand the dilemma that the president and the majority leader have. they don't want to change anything. they think any commitment made by the federal government on any program at any time ought to be there forever. well, times change. and until we make sure these popular entitlement programs fit the demographics of the changing america, we can't save them. we all know
and we know that the only way we can solve our long-term debt and deficit problem is to fix the unsustainable growth rates of our very popular entitlement programs. the president has indicated an openness to that and now's the time to actually do it. and i hope we can put all this divisiveness behind us and build the confidence and relationships on a bipartisan basis, which would help us get there here at the end of the year. >> the president and leader reid said social security should be...
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Nov 21, 2012
11/12
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MSNBCW
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eye 359
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>> we need a framework so you can look and see the deficit is coming down to near zero. that's what we need. >> where do we get the money on the spending side? >> well, first, on the taxes in addition to raising the tax rates, what we're going to start hearing much more about is the unbelievable tax gimmicks. i just want to say, but, joe, one thing about that, if i could. >> where is the spending coming from? >> i want to say one thing about that that's funny. go google and some of our other biggest companies have been hiding profits for years from the irs. with the irs' approval, putting it in bermuda and so forth. now europe is saying, because they use european con duets, okay, we'll tax that. no, that's money that should be taxed by the united states. stow if we continue our gimmicks we're going to lose it to europeans. >> so we have to raise rates and we have to cut loopholes. what about on the spending side? where do we get the money there? >> we're going to have to get defense under control and spend these wasteful wars have added trillions. that's one place. we're
>> we need a framework so you can look and see the deficit is coming down to near zero. that's what we need. >> where do we get the money on the spending side? >> well, first, on the taxes in addition to raising the tax rates, what we're going to start hearing much more about is the unbelievable tax gimmicks. i just want to say, but, joe, one thing about that, if i could. >> where is the spending coming from? >> i want to say one thing about that that's funny. go...
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64
Nov 29, 2012
11/12
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CSPAN2
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eye 64
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medicare, medicaid, the chief drivers of our president -- deficit. we made a lot of progress, but there is still spending we have to cut. the big bottleneck is republicans in congress on revenue and how much they're willing to come from. democrats will also have to step up and do some tough things. the notion that somehow these deficits and our debt are not a threat to our national security and economic future is something i cannot -- disagree with more strongly, as does the president. there are commentators on the left that suggest that -- we should not deal with it at all. we have to deal with it. think about the damage -- let's say we could reach an agreement. i happen to believe, i am not an economist by training, but we have been around the south to understand -- that would be a great driver for our economy. we are over performing the rest of the world right now. if we can actually -- for the business community and the american people say we have our fiscal house in order for a 20 period and will still be able to invest in education and technolo
medicare, medicaid, the chief drivers of our president -- deficit. we made a lot of progress, but there is still spending we have to cut. the big bottleneck is republicans in congress on revenue and how much they're willing to come from. democrats will also have to step up and do some tough things. the notion that somehow these deficits and our debt are not a threat to our national security and economic future is something i cannot -- disagree with more strongly, as does the president. there...